Posted by donjr on February 27, 2014 at 13:58:40 from (71.246.90.173):
In Reply to: finding a farm posted by missin fingers on February 27, 2014 at 08:15:28:
I got this place when two developers wanted it. I was working for the phone company, but had been with farm credit for about ten years. The loan officer I had was a great guy, and helped me along until I could split off the old home on the place and sell it, effectively cutting my mortgage in half. Needless to say, this has been over thirty years ago. I paid $110,000 for the place and sold the old house and two acres for $55,000. Then I bought a seven acre piece across the road a few years later, paid $125,000 for it and sold two lots for $120,000, then the house for $150,000 about ten years after that, and built a new home here on the main piece. I don't have a mortgage anymore, and even the machinery is free and clear. With a good loan officer and time and some creative selling, you can buy and pay for any farm around with a bit of hard work thrown in.
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